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Entity Owned Property summary
This exceptional commercial property, located at 241 S Milwaukee Ave in Wheeling, Illinois (zip code 60090), presents a unique investment opportunity. Situated on a nearly two-acre lot (71,218 sq ft) in Cook County, this 10,761 square foot, two-story building boasts a prime location on Wheeling's bustling restaurant row. The property, with APN 03-12-101-050-0000, 03-12-101-052-0000, and 03-12-101-060-0000, is zoned B-3 and features a fully operational restaurant, bar, and party room on the… ground floor. A substantial three-bedroom apartment on the second floor generates rental income. The basement includes an additional party room, dance floor, two bars, four walk-in coolers, ample storage, and restrooms. The property was renovated in 2012. A significant revenue stream is generated from gaming, with annual income approaching $100,000. The business itself is not for sale, but the real estate presents a strong opportunity for redevelopment or a new business venture. The property also benefits from outdoor patio seating in two areas and the possibility of securing a village grant. The asking price is $2,595,000 ($241.15 per square foot). This turnkey operation offers a compelling combination of established income streams and significant redevelopment potential.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Debts
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2022
Value estimate
· Oct 2026Realmo valuation models over county records.
Recently sold
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
No data for this sectionNo zoning code is on file for this parcel. Coverage grows with every catalog release.
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 8 properties nearbyComparable nearby
Similar Nearby for Sale
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $199/month
- GBA
- 9,340 SF
- Lot area
- 1.27 ac
- Year built
- 1966
- Stories
- 2
- APN
- 03-12-101-050
- Assessed value · 2022
- $60,015
- Annual tax · 2022
- $19,182
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $199/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
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- Location Insight
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- Local Zoning Insight
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- Signals, scores & lead lists
- 1500 owner contacts a month
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- Ownership
- Owner Contacts
- Location Analytics
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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